Withum

DECEMBER 11, 2024

Payroll tax offset: Beginning in 2016, qualified small businesses (defined as those with less than $5 million in gross receipts and those in their first 5 years of existence) can elect to use the R&D tax credit to offset their quarterly payroll taxes, which can provide a significant cash flow benefit.

E-commerce 52

E-commerce Tax payroll tax income tax 52

Withum

DECEMBER 17, 2024

Take that deduction away, their taxes could be as high as $37,000 on that income. One item we have seen as a significant issue for many businesses with significant capital expenditures is the drop in bonus depreciation from 100% in 2022 to 0% in 2027.

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Accounting Today

JUNE 23, 2025

We did tax returns by hand. Youll see in the next two years, we will not be the only public accounting firm, whether its Grant Thornton, whether its Citrin Cooperman, whether its Eisner, er, one of those 2021 or 2022 vintage private equity deals will go public within the next two years. All rights reserved.

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Accounting Today

JUNE 26, 2025

Gibson then voluntarily opted to edit the return to reflect false and fraudulent information on the Schedules C and D. During the 2016 through 2022 tax years, Gibson prepared at least 135 returns containing fraudulent information, causing a loss to the IRS of at least $125,197, which Gibson has agreed to pay in restitution.

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Accounting Today

JULY 10, 2025

Kim Brown and another individual ghost preparer prepared 22 false returns that caused the Treasury to issue $541,912 in false refunds. In 2022 and 2023, he and others operated a ghost prep business in three Augusta locations, including a church and Browns residence. Between 2017 and 2022, Buresh withdrew $2.9

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Accounting Today

JULY 21, 2025

Union City, Georgia: Truck driver Dantavious Jackson, 39, who operated a ghost tax prep business, has pleaded guilty to making claims for refunds of false pandemic-related employment tax credits. On the side, he also prepared taxes for a fee. Between June 2022 and August 2023, he defrauded the U.S. income tax return.

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Rhode Island Tax tax preparation Technology 89

Accounting Today

JULY 21, 2025

For 2022-2024 tax years, the new law provides very favorable transitional rules for businesses that incurred domestic R&D costs. Small-business taxpayers — those with less than $31 million in gross receipts during 2025 — can elect to expense rather than capitalize domestic R&D costs going back to 2022.

Technology 77

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Withum

NOVEMBER 17, 2022

2022 Tax Brackets and Rates. 2022 Long-Term Capital Gains Tax Bracket. Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Postpone income until 2023 and accelerate deductions into 2022.

tax planning 98

tax planning Tax Construction income tax 98

Withum

APRIL 12, 2022

The tax due date for most individual tax returns this year is April 18. If you are unable to complete your return to file by April 18, you can file for an extension to submit your return by October 17. However, the extension does not cover the payment of the tax due.

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ThomsonReuters

JANUARY 21, 2022

Below are changes that take effect this year, along with other tax planning information. First off, the deadline to file individual tax returns is April 18. Other deadlines are: January 17, 2022 : 4th quarter 2021 estimated tax payment due. April 18, 2022 : 1st quarter 2022 estimated tax payment due.

Tax 111

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RogerRossmeisl

DECEMBER 14, 2021

Certain tax deductions are claimed for the year of payment, such as the mortgage interest deduction. So, if you make your January 2022 payment in December, you can deduct the interest portion on your 2021 tax return (assuming you itemize). Accelerate deductions/defer income.

Tax 246

Tax tax return CPA tax planning 246

CTP

SEPTEMBER 16, 2022

IRAs: Even if you do not have a retirement plan through your employer, you may be eligible to contribute to a traditional IRA or Roth IRA. Traditional IRA contributions can be deductible on your tax return , depending on your income and eligibility for employer coverage. To find a Certified Tax Planner near you, click here.

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TaxConnex

FEBRUARY 27, 2024

in 2022, up 1.3% You have two initial ways to address your need for sales tax expertise: Your outside tax accountant or bringing tax expertise in-house. With the former, you risk that a professional versed in the tax code of the U.S. There were about 1.65 million accountants and auditors in the U.S.

Sales 264

Sales Tax Account accounted 264

Cherry Bekaert

NOVEMBER 14, 2023

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year. or 39-year lives.

Real Estate 109

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CTP

NOVEMBER 16, 2022

What are my ethical responsibilities when I use software to produce a tax plan? In the world of taxes, there are many ethical issues that can come into play. And according to the same research firm, the use of AI in the accounting and tax industry will likely grow more than 50 percent by the year 2030.

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MyIRSRelief

OCTOBER 3, 2022

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service. Call us today at 1-877-788-2937.

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Cherry Bekaert

NOVEMBER 28, 2023

From leveraging tax incentives to optimizing deductions, this guide offers insights into tax planning to help businesses make informed decisions and set a solid foundation for the upcoming year. The notice is applicable for tax years ending after September 8, 2023.

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tax planning Tax income tax tax return 64

Withum

NOVEMBER 17, 2022

For 2022, Donors may claim a tax deduction limit for contributions of cash of 60% (for non-cash gifts up to 30%) of one’s AGI. Donation amounts in excess of these limits may be carried over for up to five tax years. 2022 Year-End Tax Planning Resources. Start Planning. Contact Us.

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CTP

SEPTEMBER 22, 2022

IRAs: Even if you do not have a retirement plan through your employer, you may be eligible to contribute to a traditional IRA or Roth IRA. Traditional IRA contributions can be deductible on your tax return , depending on your income and eligibility for employer coverage. To find a Certified Tax Planner near you, click here.

tax planning 52

tax planning Tax tax return Education 52

SkagitCountyTaxServices

MARCH 17, 2023

While we’ll probably file an extension for you if you’re in this category and just now looking at your taxes, you’ll want to dial in VERY soon. But also, there’s little more than a month before personal tax returns are due. The first-year bonus depreciation deduction was 100% through the end of 2022. Check with us.

tax planning 52

tax planning business tax Tax tax return 52

Withum

MAY 16, 2022

In our example, Julia would have to include the $10,000 of cancellation of debt income in her 2021 tax return and adjust her basis in her real property by $50,000 as of January 1, 2022. This article was originally published by Lynn Mucenski Keck in Forbes on May 11, 2022. Business Tax Services. Contact Us.

Real Estate 131

Real Estate Tax income tax tax return 131

Withum

JUNE 1, 2022

This could be a surprise to many taxpayers and may only get worse through the 2022 taxable year. billion in taxes for the industry in 2022. Under the various safe harbor proposals, the amendment of a prior return would not be necessary. This article was originally published by Lynn Mucenski Keck in Forbes on May 24, 2022.

business tax 119

business tax Tax income tax tax return 119

Ronika Khanna CPA,CA

DECEMBER 2, 2022

Note that the T5 slips for calendar year (ended December 31st) 2022 are due by February 28, 2023. Alternatively, some shareholders also take dividends in addition to a salary depending on their tax planning strategy. and dividend tax credit of 9.0301% are the same for the years from 2019 to 2022.

tax return 98

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Inform Accounting

APRIL 26, 2022

So as we enter the new tax year, what is the most tax efficient way for a director to draw money 2022/23? Key tax changes for 2022/23. National Insurance Contributions (NICs) and dividend tax rates are increasing by 1.25% to support the NHS, health and social care. Minimising Employee’s NIC.

Tax 52

Tax income tax tax return payroll 52

Anders CPA

AUGUST 30, 2022

The interim Name, Image and Likeness (NIL) Policy has opened many doors for college athletes – including the door that requires annual income tax filings for NIL deals. To deduct some of their expenses against this new form of income, many college athletes have set up LLC’s making their income reportable on Schedule C on their tax return.

Entertainment 98

Entertainment Sports income tax tax return 98

Withum

NOVEMBER 17, 2022

Several states responded by enacting pass-through entity taxes (PTETs) as a workaround to mitigate the impact of the SALT deduction limitation for the owners of pass-through entities. As of the end of 2022, over half the states have enacted PTETs, making the availability of PTETs more commonplace rather than the exception.

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CTP

SEPTEMBER 16, 2022

Due to the TCJA cap, the SALT deduction cannot be more than $10,000 for joint filers and $5,000 for separate filers on the federal tax return. The Jobs Growth and Tax Relief Reconciliation Act (enacted in 2008) introduced a 0% tax rate on capital gains for those in lower income brackets. You might be pleasantly surprised!

tax planning 52

tax planning Tax Real Estate Education 52

CTP

SEPTEMBER 16, 2022

Due to the TCJA cap, the SALT deduction cannot be more than $10,000 for joint filers and $5,000 for separate filers on the federal tax return. The Jobs Growth and Tax Relief Reconciliation Act (enacted in 2008) introduced a 0% tax rate on capital gains for those in lower income brackets. You might be pleasantly surprised!

tax planning 52

tax planning Tax Real Estate Education 52

Withum

JANUARY 22, 2024

A pivotal change emerged on January 1, 2022. Research and Experimentation (R&E) expenditures, once directly deductible, now must be capitalized for tax purposes. Section 382 will also affect other tax attributes like interest expense, capital losses, and general business credits under Section 383.

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LyfeAccounting

MAY 24, 2021

Now, these are tax credits. Let us repeat, tax credits, which means this is not a stimulus check. You can think of this more as an advance on your 2021 tax return. This could have some ramifications on your tax refund in 2022, which we will explore a little bit later. How Does It Affect Your Tax Planning?

Tax 52

Tax tax return tax planning accounting and finance 52

Inform Accounting

MAY 3, 2022

Where a property is within the scope of the ATED on 1 April, an ATED return must be made online by 30 April and the tax for the period from 1 April to the following 31 March must be paid by the same date. The table below shows the rates of ATED that applies for the period from 1 April 2022 to 31 March 2023. ATED (2022/23).

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tax planning tax return Tax Government 52

Inform Accounting

APRIL 28, 2022

Rate of ‘Section 455’ tax. Section 455 tax is aligned with the dividend upper rate. From 6 April 2016 to 5 April 2022 the rate is 32.5%. As part of a package of measures to raise funds for health and adult social care, the dividend tax rates are increased by 1.25% from 6 April 2022. Need tax planning support?

corporation tax 52

corporation tax Tax tax planning accounting and finance 52

Inform Accounting

JUNE 29, 2022

This means that the profits which are taxed for a particular tax year are those for the accounting period that ends in that tax year. However, from 2024/25 a business will be taxed on its profits for the tax year, i.e. the profits from 6 April and the start of the tax year to 5 April at the end of the tax year.

Account 52

Account accounted accountant tax return 52

Withum

MAY 2, 2022

The Biden Administration FY 2023 Budget and Treasury Green Book, released on March 28, 2022, includes various proposals to modernize the United States’ current compliance and reporting structure surrounding digital assets. The proposal would be effective for returns required to be filed after December 31, 2022. Contact Us.

Tax 64

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Inform Accounting

AUGUST 2, 2022

During the Covid-19 pandemic, the conditions were relaxed and employees who were required to work from home during the pandemic were able to make a claim of £6 per week for 2020/21 and 2021/22 for the full tax year (even if they returned to the office for some of the year). However, this easement ended on 5 April 2022.

tax return 52

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Basis 365

APRIL 28, 2022

You really should review this periodically as laws and tax code do change. The Statistics Surrounding Business Types Your business type determines more than just what business tax return you will file. A separate tax return is required to be filed as a partnership is a separate legal entity from the partners.

income tax 52

income tax tax return tax planning Legal 52

LyfeAccounting

MARCH 16, 2021

Now, these expenses must be paid or incurred during 2021 or 2022. So for those of you filing your business taxes for 2020 , you will not be able to take a full deduction on your tax return. So if you’re planning on taking your clients golfing or something, we wouldn’t plan on using those expenses as a tax write-off.

Tax 52

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